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Global stocks lower after FOMC's July minutes suggest US inflation too high

Global stock markets and Wall Street futures mostly declined on Thursday after the Federal Reserve said US inflation is too high despite aggressive rate hikes, suggesting support for more increases. London, Shanghai, Tokyo, and Hong Kong declined. Frankfurt opened higher. Oil prices edged up. Notes released on Wednesday from the Fed's July 26-27 board meeting said inflation is unacceptably high", despite signs US economic growth is weakening. Board members saw little evidence to inflation pressures as subsiding. Investors worry aggressive rate hikes imposed by the Fed and central banks in Europe and Asia this year to tame inflation that is running at multi-decade highs might derail global economic growth. The Fed notes raised the prospects of further tightening," while some investors see possible excessive tightening dragging growth, Venkateswaran Lavanya of Mizuho Bank said in a report. In early trading, the FTSE 100 in London slipped 0.2 per cent to 7,498.98 while Frankfurt's DA

Oil rises as US crude stocks data, tight supply from Russia raise concerns

US crude stocks fall by over 7 million barrels

Donald Trump CFO's plea deal could make him a prosecution witness

Donald Trump's chief financial officer is expected to plead guilty to tax violations on Thursday in a deal that would require him to testify about illicit business practices at the former president's company, two people familiar with the matter told The Associated Press. Allen Weisselberg is charged with taking more than USD 1.7 million in off-the-books compensation from the Trump Organization over several years, including untaxed perks like rent, car payments and school tuition. The plea deal would require Weisselberg to speak in court on Thursday about the company's role in the alleged compensation arrangement and possibly serve as a witness when the Trump Organization goes on trial in October on related charges, the people said. The two people were not authorised to speak publicly about the case and did so on condition of anonymity. Weisselberg, 75, is likely to receive a sentence of five months in jail, to be served at New York City's notorious Rikers Island complex, and he cou

S Korea, US to stage preparatory military drills before major exercise

South Korean and US troops plan to hold preliminary drills this week in advance of their annual combined training involving field manoeuvers, officials said on Tuesday.

White House NSA Jake Sullivan calls attack on Salman Rushdie 'appalling'

The attempt on the life of renowned writer Salman Rushdie is "appalling" and "reprehensible", US National Security Advisor James Sullivan has said.

US bill to allow parents to sue social media over child addiction fails

California lawmakers have rejected a much-anticipated bill allowing parents to sue social media platforms over their addictive features for kids has failed in the legislature.

Democrat bill to bring US taxpayers closer to expanded IRS free-file system

The flagship climate change and health care bill passed by Democrats will bring US taxpayers one step closer to a government-operated electronic free-file tax return system.

Democrats in US House pass sweeping healthcare, tax & climate bill

Democrat lawmakers in the US House has passed a sweeping health care, tax and climate change bill.

Federal judge revives Obama-era ban on coal sales from federal lands

A federal judge has reinstated a moratorium on coal leasing from federal lands that was imposed under former President Barack Obama and then scuttled under former President Donald Trump.

Former US President Donald Trump's ex-CFO indicted on criminal charges

Donald Trump's companies ex-CFO Allen Weisselberg, is still facing a variety of criminal charges related to tax evasion allegations after he failed in a New York court this week.

Diesel pipeline break spills 45,000 gallons of fuel in Wyoming: US

A diesel pipeline in Wyoming owned by a company that's being sued by federal prosecutors over previous spills in two other states cracked open and released more than 45,000 gallons of fuel.

Google gets poll panel nod to keep politician emails out of spam in US

Google has received a go-ahead from the Federal Election Commission (FEC) in the US to keep politician campaign emails from being marked as spam.

FBI agents search Trump's premises for papers related to nuclear weapons

The FBI agents were looking for documents relating to nuclear weapons, among others, in the unprecedented search they conducted of the premises of Donald Trump earlier this week in Florida.

China says exercises near Taiwan, conducted post Pelosi visit, have ended

China on Wednesday announced that it has concluded its military drills after more than a week-long training near Taiwan, simulating an attack on the self-ruled island.

Trump-era policy 'Remain in Mexico' is over: Biden administration

The Department of Homeland Security ended a Trump-era policy requiring asylum-seekers to wait in Mexico for hearings in US immigration court, hours after a judge lifted an order.

US adopts new sub-Sahara strategy to counter Russian, Chinese influence

The US is adopting a new strategy to cooperate more closely with countries in sub-Saharan Africa and push back the influence of China and Russia in the region, the White House said in a statement.

In an unprecedented move, FBI searches Donald Trump's Florida home

Former US President Donald Trump has said that his home in Florida has been "raided" by the FBI

As recession fears grow, hiring in American job market likely slowing

Month after month, US employers just kept adding hundreds of thousands of workers, often beating forecasters' expectations. Amid recession fear, hiring is likely to slowdown.

1.7 million gay, bisexual men in US at highest monkeypox risk: CDC

Nearly 1.7 million men who have sex with men face the biggest threat from monkeypox in the US, Centers for Disease Control and Prevention estimates show.

Gold at 1-mth peak as Treasury yields fall; focus on U.S. jobs report

Gold prices steadied at a one-month high on Friday, ahead of a much awaited US jobs data, as a retreat in Treasury yields and growing recession fears boosted safe-haven demand kept bullion on track.